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M1NU~crs <br />ctt_y cou„c;~. <br />n~r-t1 t~l, ~.~~B~F <br />'Pax Incremc:nC I~ir. Itarsteaci [elt thatt this coas a~;ood e~rea for tax incremenC. <br />Pinanci.ng fi.nanc~.i.ng. <br />(ConT..) <br />liarstead reported that. he and NIcCull.ou~;h were preparF~<i t:o wor.ic wiCh <br />the City on Chis matter ~nd encourage the City to ~-~,tablish thi.s <br />ar.ea as a tax increment di.stri.cC. <br />Once the Ci.ty establishes the distrtict, it woul.d be offered to <br />developers to present proposals. <br />Il~rstead reported that tax increm~~~nt can be used to acqui.re the <br />~r.operty i.n t}~ie r:irea, ei.thE:r by purchasc or condemnati.on. <br />Mr. Paticy reportrd that in the pasC the Ci.ty has not been eager <br />to condemn property. Pa?tey aslced if Ctu; pzoposal woul.d worl< out: <br />~ood for Messr.s. I{arstead and C4cCu1.lourh, and the Cit_y woul.d he~ve <br />to te7.]. other peopl.e in lh~ area Co move out. <br />P9r. Ilarsteacl reported that they have contacted ,omc of Che property <br />owners in the area and tl~ieir selling prices are not realist~ic. <br />Ftarsteac{ felt that with the large number oF oomers, the. power of <br />eminent domai.n mu>C. come into play. <br />;calze reporCed that the Ci.l:y has never condemned propert.y. Scalze <br />stated that her understanding of. tax increment: f~in~nc-i.ng ~.i.s tkiat <br />the devel.ope:rs woul.d be abl.e to purchase the property and devel.op <br />i.t at a towex rate and noC have to pay Eor cerCa~i.n ser.vi.ces, <br />such as police ~~rotecti.on. Scal.ze stated that; Chi.s mi.ght be <br />a~;ree~,ible in a very blighted ~rea or i.f zi super clevel.opment woul<I <br />be comi.n,n, i.n. <br />N2rstead stated th1t. the only ca~~y to pet: a super development 1.n i.s <br />to have a large piecc of property. <br />liarsCe~ad sT.ated Chat wi.Ch tax increment fi.nanci_n~;, t:hc~~ City has an <br />enormous;amount: of opt:ions. Ilarstead stated thaC he was here to <br />ans~aer tl~e City's qu~:sti.ons on Chi.s matter and p,e[ the Ci.ty to tiiink <br />about it. <br />Nr. ltanson stated rhat t:he Counci.l woi.ild talce iC under advisement <br />and geC f.urt:her i.nformation Irom the Planner. <br />Cub Pood The City Audi.tor presented the Counc~i.1 an eimended water connecti.on <br />Connecti.on Fee. for. Cub Poods based on <an apprtii.sal of. the prop<~~rty and new <br />front. footage f:i.~;ures. <br />Ap,enda Hooley ~' <br />Item No. 9 PYr. Charli.e -ttvo-l-i-e-, Presi.denC of Cub, sippeared before the <br />Pir. kiooli.e out~lined Cub', rel.at~ionship w:Lth i:he City ovcr <br />1.1. years and informed the City that Cub wanted to remai_n <br />Canada and tried to do so, but could noi: work thi.s ouC. <br />~ Correctior <br />Counci.l.. Res. <br />the past 84-4-180 <br />in L:i.t:tle <br />Page -b- <br />